Spanish platform Wegow, a live music social marketplace, has acquired event management company Bracelit.
Bracelit will continue to operate as an independent company and work with clients to help manage and organise sporting, corporate, congress and trade events.
The acquisition comes as studies show that in 2020, the use of digital wallets grew by 7% globally and by 2024, it is predicted that more than half of e-commerce transactions will be carried out through this form of payment.
According to Wegow, cashless payments were present at 30% of international festivals compared to this year, where cashless payments now make up more than 80% of transactions. Wegow believes that cashless is the future of music and live events.
Jose María Ozamiz, chief executive and co-founder of Wegow: “The acquisition of Bracelit by Wegow is a firm step into the future. This union represents the creation of the most complete live music platform on the market.
“It will exponentially improve the experience of users, who will have everything they need to enjoy concerts and festivals. For promoters and brands this union constitutes the best source of information about your event, providing all the resources to make your event a success: information on artists, fans, bar and hospitality management and consumption.”
Bracelit boasts clients such as Cartier, Beefeater, Cupra, Google, Mahou and El Corte Inglés.
Antonion Palomares Nova, CEO of Bracelit, added: “We are very excited about this union, which makes us the most powerful management platform on the market, sharing a common philosophy and international growth strategy with Wegow.”